Royce Value Trust, Inc. (NYSE - RVT) Declares Fourth Quarter Common Stock Distribution of $0.38 Per Share

NEW YORK--(BUSINESS WIRE)--Royce Value Trust, Inc. (NYSE - RVT) has declared a distribution of $0.38 per share on its Common Stock. The distribution, optionally payable in additional shares of Common Stock, or in cash by specific stockholder election, is to be paid on December 23, 2008 to stockholders of record at the close of business on December 8, 2008 (ex-dividend on December 4, 2008). The price of shares issued for reinvestment will be determined on December 15, 2008.

The Fund has a policy of paying quarterly distributions on its Common Stock. Distributions are being made at the annual rate of 9% of the rolling average of the prior four calendar quarter-end NAVs, with the fourth quarter distribution being the greater of 2.25% of the rolling average or the minimum distribution required by IRS regulations.

Total distributions to Common Stockholders declared in 2008 were $1.72 per share. For Federal income tax purposes, approximately 71% of the 2008 distributions will consist of long-term capital gains and 29% will reported as return of capital.

Royce Value Trust, Inc. is a closed-end diversified management investment company whose shares of Common and Preferred Stock (NYSE – RVT.prb) are listed and traded on the New York Stock Exchange. The Fund’s primary investment goal is long-term capital growth, which it seeks by normally investing at least 75% of its assets in equity securities primarily of small- and micro-cap companies.

For further information on The Royce Funds^sm, please visit our web site at: www.roycefunds.com.